Duke Realty Corp (DRE) Shares Sold by Envestnet Asset Management Inc.
Envestnet Asset Management Inc. lessened its stake in Duke Realty Corp (NYSE:DRE) by 29.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,766 shares of the real estate investment trust’s stock after selling 11,425 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Duke Realty were worth $799,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. lifted its holdings in shares of Duke Realty by 4,741.6% during the 2nd quarter. Bessemer Group Inc. now owns 3,728 shares of the real estate investment trust’s stock valued at $104,000 after acquiring an additional 3,651 shares in the last quarter. Advisor Group Inc. lifted its holdings in shares of Duke Realty by 0.3% during the 2nd quarter. Advisor Group Inc. now owns 4,257 shares of the real estate investment trust’s stock valued at $119,000 after acquiring an additional 12 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of Duke Realty by 12.6% during the 2nd quarter. Toronto Dominion Bank now owns 4,369 shares of the real estate investment trust’s stock valued at $122,000 after acquiring an additional 488 shares in the last quarter. Fiduciary Trust Co. acquired a new position in shares of Duke Realty during the 2nd quarter valued at $201,000. Finally, Zeke Capital Advisors LLC acquired a new position in shares of Duke Realty during the 3rd quarter valued at $211,000. Institutional investors own 94.02% of the company’s stock.
Several equities research analysts recently issued reports on the stock. J P Morgan Chase & Co downgraded shares of Duke Realty from an “overweight” rating to a “neutral” rating and set a $30.00 price target on the stock. in a research note on Tuesday, September 26th. Morgan Stanley reaffirmed an “overweight” rating and set a $31.00 price target on shares of Duke Realty in a research note on Thursday, December 14th. Zacks Investment Research raised shares of Duke Realty from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Monday, October 30th. BidaskClub raised shares of Duke Realty from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Finally, BMO Capital Markets set a $30.00 price target on shares of Duke Realty and gave the stock a “hold” rating in a research note on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $29.67.
Duke Realty (NYSE:DRE) last released its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.01. The company had revenue of $169.61 million during the quarter, compared to the consensus estimate of $168.75 million. Duke Realty had a net margin of 178.66% and a return on equity of 6.36%. The company’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.31 EPS. analysts expect that Duke Realty Corp will post 1.24 earnings per share for the current fiscal year.
The business also recently announced a special dividend, which was paid on Tuesday, December 12th. Stockholders of record on Friday, December 1st were given a $0.85 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a dividend yield of 2.74%. This is an increase from Duke Realty’s previous special dividend of $0.20. Duke Realty’s payout ratio is presently 19.18%.
Duke Realty Profile
Duke Realty Corporation is a self-managed real estate investment trust (REIT). The Company and Duke Realty Limited Partnership collectively specialize in the ownership, management and development of bulk distribution (industrial) and medical office real estate. It operates through three segments, the first two of which consist of the ownership and rental of industrial and medical office real estate investments.
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